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Corn Refiners Urge Passage of Free Trade Agreements

CORN REFINERS APPLAUD MOMENTUM, URGE PASSAGE OF FREE TRADE AGREEMENTS

FOR IMMEDIATE RELEASE
October 3, 2011

CONTACT: David Knowles
(202) 331-1634

WASHINGTON, DC – The Corn Refiners Association (CRA) today applauded the submission by the White House of the three free trade agreements (FTAs) with Panama, Colombia and Korea to Congress, urging swift passage of these important accords.

“The corn wet milling industry and the U.S. economy will benefit greatly from free trade agreements with these three trading partners,” said Audrae Erickson, CRA President. “Starch exports from the European Union (EU) gained access to the Korean market earlier this year when the EU deal went into effect, putting our corn starch products at a competitive disadvantage absent quick passage of the Korean agreement.”

“We urge Congress to quickly pass all three trade deals so that restrictions on exports to Panama, Colombia and Korea will be lifted as soon as possible.”

The three FTAs call for the elimination or reduction of tariffs on refined corn products, which will create new market access for U.S. corn sweeteners, corn oil, corn starches and processed animal feeds such as corn gluten feed and corn gluten meal.

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The Corn Refiners Association (CRA) is the national trade association representing the corn refining (wet milling) industry of the United States. CRA and its predecessors have served this important segment of American agribusiness since 1913. Corn refiners manufacture sweeteners, ethanol, starch, bioproducts, corn oil and feed products from corn components such as starch, oil, protein and fiber.